Evonik rises as BASF reportedly raises takeover bid

By Reuters News

** Shares of Evonik EVKn.DE rise 3.7% after Bloomberg News reported that rival BASF BASFn.DE had raised its offer for the German chemicals maker to more than €11 billion ($12.3 billion)

** BASF's new bid for Evonik is around €24 per share, Bloomberg wrote citing people familiar with the matter, adding that the revised offer comes with guarantees on jobs and Evonik's productions sites

** The companies said in September that BASF had approached Evonik about a possible takeover

** BASF shares were flat

($1 = 0.8934 euros)

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